SPEY RESOURCES CORP. ANNOUNCES ADDITION OF JOSE GUSTAVO DE CASTRO ALEM TO THE ADVISORY BOARD

Rhea-AI Summary

Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) announced the addition of José Gustavo de Castro Alem to its advisory board. José is an experienced mining executive with expertise in international mining operations and project management, previously overseeing major lithium projects in Argentina. His extensive background includes significant roles with FMC Corporation and Orocobre Ltd. Phil Thomas, CEO, expressed confidence in the strategic advantages José brings, which may enhance the company's operational capabilities in Argentina’s lithium sector.

Positive

• José brings over 20 years of experience in mining operations, particularly in Argentina, enhancing operational expertise.
• His past roles include managing a $300 million lithium carbonate plant, indicating strong project management skills.
• The addition to the advisory board may strengthen strategic decisions and business practices.

Negative

• None.

Vancouver, British Columbia, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce the addition of José Gustavo de Castro Alem to the Company’s advisory board. José is a mining executive and chemical engineer with deep knowledge and experience in international and Argentine mining operations, and project and commercial management. José specializes in process engineering, mining, resources management and operations work.

José has held important operations and executive positions in mining organizations in Argentina and Chile, and was involved in the design, construction and start-up of the FMC Corporation (now Livent Corp. (NYSE: LTHM)) facilities in the 1990s, holding the position of Lithium Carbonate and Ponds Superintendent. In 2009, José was the Argentine Country Manager for Orocobre Ltd.(ASX:AKE), where he was responsible for the feasibility, design, construction and start-up of their lithium brine project in the Lithium Triangle, Argentina.

José is a business savvy mining executive who has achieved continual sustainability through focused strategic workflow, staffing and business practice. He is well-versed with various project types, operations start-up, operations ramp-up and business profitability with focus on sustainability. Similar to Phil Thomas, the Company’s CEO, he has extensive experience with contractors, unions, communities and governmental authorities as well as the technical side of the business. José has strong risk management and financial experience with proven results achieved in South America.

Phil Thomas, CEO of the Company, commented, “José and I met in Argentina on my recent trip and compared our experience and knowledge and realised the powerful tactical and strategic contribution we can make. We are excited to have Jose on our team advising us. Combining my 20 plus years of geological exploration to production experience in Argentina along with José’s 20 plus years makes for a strong team to move our Argentina projects forward.”

Nader Vatanchi, VP Corporate Finance of the Company, said, “one of José’s major achievements was the operation of a $300 million lithium carbonate plant from definitive feasibility study to complete commercial construction. He was also intimately involved in the acquisition and readapting of the Borax Argentina S.A. Operations of Rio Tinto Plc, changing their business focus and operation priorities. There is no doubt that José’s vast experience and knowledge in production and plant construction in Argentina will be a huge value-add to Spey moving forward and we are very excited to have him on our team.”

About Spey Resources Corp.

Spey Resources is a Canadian lithium focused mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also owns 100% of the mineral rights to 4 lithium exploration projects located in the James Bay Region of Quebec, in proximity to a recent hard rock lithium discovery. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.

For more information, please contact:

Nader Vatanchi
VP of Corporate Finance, Director
nader@speyresources.ca
778-881-4631

Cautionary Note Regarding Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, ‎‎‎‎including with respect to the Company's business and plans. The Company ‎‎provides forward-looking statements for the purpose of conveying ‎‎information about current ‎‎expectations and plans relating to the future and readers are cautioned that ‎‎such statements may not be ‎‎appropriate for other purposes. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company’s ‎‎public filings ‎‎under the Company’s SEDAR profile at www.sedar.com. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this ‎press release.‎

FAQ

Who is José Gustavo de Castro Alem and what is his role at Spey Resources?

José Gustavo de Castro Alem is a mining executive with over 20 years of experience, now serving on the advisory board of Spey Resources.

What are the expected impacts of José's addition to Spey's advisory board?

His extensive experience in international mining is expected to enhance Spey’s strategic developments and operational efficiency in Argentina.

How does José's experience benefit Spey Resources?

José's background in managing large-scale lithium projects may improve project execution and sustainability strategies for Spey.

What is the significance of José's previous roles in the mining industry?

José has held key positions in major mining companies, overseeing processes and operations that resulted in successful project outcomes, including lithium production.